SF Express moves ahead with plan to set up air cargo hub in China in a joint venture

SF Express, dubbed China's version of FedEx, has inked an agreement with Hubei's provincial government and an investment company to set up a joint venture that will develop an airport in Ezhou city in central China for a total investment of CNY5 billion (US$755.55 million), according to media reports.
SF Holdings will invest CNY2.3 billion, the investment company CNY2.45 billion and provincial government CNY250 million in the joint venture.
The reports say that the airport is estimated to reach a cargo throughput of 2.4 million tonnes and receive one million passengers by 2025. By 2045, the airport is expected to handle 7.6 million tonnes of airfreight, reported London's Air Cargo News.
The plan also calls for the development of a logistics park close to the airport, which will act as the airline's hub for domestic and international traffic.
SF Express has been adding to its aircraft widebody fleet of late, purchasing two Boeing 747-400 freighters in a bid to expand its network. In August, its airline arm added its 40th freighter to its fleet, which includes five B767s, 18 B757s and 17 B737s.